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T-Mobile US announces $19 billion shareholder return program

A T-Mobile store is pictured in the Manhattan borough of New York

(Reuters) - U.S. wireless carrier T-Mobile US said on Wednesday it has authorized a shareholder return program of up to $19 billion that will run through December 31, 2024.

The company intends to declare and pay its first dividend of approximately $750 million in Q4 2023, as part of the return program.

It will pay around $3 billion in additional dividends in 2024, with payments occurring each quarter during the year, along with share repurchases.

T-Mobile added the dividend amount paid per share is expected to grow by around 10% annually.

The shareholder return program is in addition to the company's previously announced $14 billion share repurchase program the Board authorized in September 2022.

(Reporting by Samrhitha Arunasalam in Bengaluru; Editing by Krishna Chandra Eluri)